Caisse DE Depot ET Placement DU Quebec Has $254.40 Million Stake in Lennar Co. (NYSE:LEN)

Caisse DE Depot ET Placement DU Quebec cut its holdings in Lennar Co. (NYSE:LEN) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,356,945 shares of the construction company’s stock after selling 30,120 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Lennar were worth $254,400,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Verition Fund Management LLC increased its position in Lennar by 147.6% in the 3rd quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock valued at $12,978,000 after buying an additional 41,264 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Lennar by 8.9% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 30,969 shares of the construction company’s stock worth $5,806,000 after acquiring an additional 2,542 shares during the last quarter. Vinva Investment Management Ltd lifted its holdings in shares of Lennar by 9.9% in the third quarter. Vinva Investment Management Ltd now owns 60,697 shares of the construction company’s stock valued at $11,352,000 after purchasing an additional 5,470 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in Lennar by 3.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 4,287 shares of the construction company’s stock valued at $804,000 after acquiring an additional 151 shares in the last quarter. Finally, Freedom Investment Management Inc. lifted its position in shares of Lennar by 39.7% during the third quarter. Freedom Investment Management Inc. now owns 11,066 shares of the construction company’s stock valued at $2,075,000 after purchasing an additional 3,142 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Buying and Selling at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.36% of the company’s stock.

Lennar Stock Up 0.2 %

Shares of NYSE:LEN opened at $174.48 on Friday. The firm has a fifty day moving average price of $176.77 and a two-hundred day moving average price of $169.68. The company has a market cap of $47.33 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.63 and a beta of 1.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar Co. has a one year low of $125.17 and a one year high of $193.80.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $3.91 earnings per share. Analysts anticipate that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Lennar’s dividend payout ratio is presently 13.25%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JMP Securities lifted their price target on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Royal Bank of Canada increased their target price on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. upped their price objective on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods boosted their target price on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Bank of America increased their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lennar presently has an average rating of “Hold” and a consensus price target of $184.29.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.